Thursday, May 1st, 2025 - Recession looms; Tariffs cancel Christmas; Measles’ comeback; Trump blames Biden (Again); Mahdawi released

Today’s Headlines: The U.S. economy shrank by 0.3% in Q1 of 2025, marking its first contraction since 2022 and falling well below forecasts of modest growth. Payroll growth also disappointed, with only 62,000 jobs added—half of what was expected. JP Morgan analysts now consider a mild recession their “base case.” Meanwhile, Trump blamed Biden for the downturn, despite previously taking credit for economic wins. New tariffs are compounding the strain: imports from China are down sharply, shipping volume at the Port of L.A. is projected to drop by 35%, and over 60% of U.S. toymakers have canceled holiday orders, threatening a Christmas goods shortage. During a Cabinet meeting, Trump dismissed the concerns, saying kids might have to settle for fewer, pricier toys. He also finalized a rare earth minerals deal with Ukraine in exchange for military support. Elsewhere, a judge ordered the release of a Columbia student unlawfully detained by ICE after a citizenship interview, and measles outbreaks are spreading in at least 10 states, with Texas cases topping 660. Resources/Articles mentioned in this episode: WSJ: Stock Market News, April 30, 2025: Dow, S&P 500 Rally Into Close; GDP Data Shows Economy Contracting CNBC: Port of Los Angeles says shipping volume will plummet 35% next week as China tariffs start to bite Inkl: More than 60 percent of toymakers forced to cancel orders as Trump’s tariffs threaten Christmas NBC News: Ukraine says it hopes to sign U.S. minerals deal within 24 hours NPR: Federal judge orders release of Columbia University student Mohsen Mahdawi AP News: The US has nearly 900 measles cases, and 10 states have active outbreaks. Here's what to know Wired: Scientists Find Measles Likely to Become Endemic in the US Over Next 20 Years Morning Announcements is produced by Sami Sage and edited by Grace Hernandez-Johnson Learn more about your ad choices. Visit megaphone.fm/adchoices